IPPs have weakened Pakistan's economy, system must shift towards district economies: SM Tanveer

Tanveer also criticised the role of independent power producers (IPPs), saying the existing energy structure had placed a significant burden on the national economy. His remarks come amid continuing concerns from business leaders over high electricity costs and their impact on industrial competitiveness.

He said economic reforms should focus on creating an environment in which businesses and industries could expand, generate employment and contribute more to national revenues. Former federal minister Gohar Ejaz, speaking on the occasion, said Pakistan faced challenges in competing with other countries across several sectors.

He said the country’s population continued to grow and stressed the need to strengthen domestic productive capacity. Ejaz argued that Pakistan’s economic solution could not depend solely on borrowing and said the private sector and industrialists had an important role to play in expanding economic activity.

He said Pakistani businesses had the capability to compete internationally if the right environment and opportunities were provided. “We have to work hard ourselves,” Ejaz said, adding that Pakistan possessed considerable potential that needed to be properly utilised.

Tanveer has previously called for structural changes to Pakistan’s economy, including stronger district-level economic structures and policies aimed at reducing the cost of doing business. The business community has also repeatedly raised concerns over high energy costs, taxation and regulatory issues, arguing that these factors affect industrial production and exports.

Recent FPCCI discussions have included calls for competitive electricity tariffs and measures to improve industrial activity. The speakers stressed the need for greater industrial investment, stronger local economies and policies that enable Pakistani businesses to compete in international markets.

Business leader SM Tanveer has called for economic reforms and a shift towards district-based economies, while Gohar Ejaz stressed industrial growth and domestic capacity to strengthen Pakistan’s economy.